{"id":571445,"date":"2021-06-23T10:36:45","date_gmt":"2021-06-23T14:36:45","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=571445"},"modified":"2021-06-23T10:36:48","modified_gmt":"2021-06-23T14:36:48","slug":"its-better-than-gold-mark-cuban-defends-bitcoin-despite-price-drop","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/its-better-than-gold-mark-cuban-defends-bitcoin-despite-price-drop\/","title":{"rendered":"\u2018It\u2019s BETTER Than Gold\u2019: Mark Cuban Defends Bitcoin, Despite Price Drop"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fits-better-than-gold-mark-cuban-defends-bitcoin-despite-price-drop%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=571445&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1209454147-1200x800-1.jpg\" class=\"ff-og-image-inserted\"  style=\"display:none\"><\/div>\n<p><span>Despite massive levels of volatility in the cryptocurrency market resulting in a decline in Bitcoin prices \u2014 briefly dropping below $30,000 in recent days \u2014 billionaire Mark Cuban has come to the coin\u2019s defense, describing it as \u201cbetter than gold.\u201d<\/span><\/p>\n<p><span>\u201cBTC is digital gold. It wins that use case,\u201d Cuban tweeted on June 21. \u201cEvery other platform from Eth to you name it will win or lose based on their user base. Over time, as happened with tech stocks, people will understand the valuation metrics of networks\/platforms and invest based them.\u201d<\/span><\/p>\n<p><span>\u201cCrypto outperforms stocks not just on transparency, but by allowing tokens to share all the economics with holders. Revenues always get to holders, not to retained earnings. That\u2019s huge. The economics of apps and innovation are far better for entreprenuers and investors,\u201d Cuban added.<\/span><\/p>\n<p><span>\u201cTalk about OLD takes,\u201d responded Oliver Renick, a lead anchor at TD Ameritrade Network. \u201cBitcoin is making no discernable progress towards digital gold. Why are we still assuming it will at some point in the future?\u201d<\/span><\/p>\n<p><span>\u201cIts BETTER than gold,\u201d Cuban said, retweeting Renick. \u201cNo worries about storing it. Easy to transfer. Easy to trade. Easy to convert. Doesn\u2019t require an intermediary. Can be fractionalized. Biggest BTC challenge? No William Devane type commercials and all the people who believe gold is an inflation hedge.\u201d<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\" readability=\"8.9221556886228\">\n<p lang=\"en\" dir=\"ltr\">Its BETTER than gold.  No worries about storing it. Easy to transfer. Easy to trade. Easy to convert. Doesn&#8217;t require an intermediary. Can be fractionalized. Biggest BTC challenge? No William Devane type commercials and all the people who believe gold is an inflation hedge <a href=\"https:\/\/t.co\/lZWPApMOHq\">https:\/\/t.co\/lZWPApMOHq<\/a><\/p>\n<p>\u2014 Mark Cuban (@mcuban) <a href=\"https:\/\/twitter.com\/mcuban\/status\/1407044302908362759?ref_src=twsrc%5Etfw\">June 21, 2021<\/a><\/p>\n<\/blockquote>\n<p><span>In the earlier tweet thread, Cuban also acknowledged various downsides of the cryptocurrency.<\/span><\/p>\n<p><span>\u201cWill some fail. Of course. Will there be fraud. Yep. But over time the apps will get better, there will be greater network effects and UI\/UX will make it easy for anyone to participate and understand,\u201d Cuban wrote. \u201cWhen Textbooks are NFTs and kids know its better than physical books and the used book market, they will go to the platform that is the path of least resistance. The challenge for all networks\/platforms is how big does the early mover advantage get?\u201d<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\" readability=\"10.503472222222\">\n<p lang=\"en\" dir=\"ltr\">When Textbooks are NFTs and kids know its better than physical books and the used book market, they will go to the platform that is the path of least resistance.  The challenge for all networks\/platforms is how big does the early mover advantage get ?<\/p>\n<p>\u2014 Mark Cuban (@mcuban) <a href=\"https:\/\/twitter.com\/mcuban\/status\/1407040323113656326?ref_src=twsrc%5Etfw\">June 21, 2021<\/a><\/p>\n<\/blockquote>\n<p><span>As noted by <\/span><a href=\"https:\/\/www.foxbusiness.com\/markets\/mark-cuban-bitcoin-better-than-gold\"><span>Fox Business<\/span><\/a><span>, <\/span><span>Cuban \u201chas been an outspoken proponent of bitcoin and other cryptocurrencies. His NBA team, the Dallas Mavericks, announced in March that it would begin accepting dogecoin for tickets and merchandise.\u201d<\/span><\/p>\n<p><span>Cuban has been vocal when it comes to other areas of market volatility in recent months. In January, for example, Cuban celebrated the so-called WallStreetBets movement, \u201c<\/span><span>the famed Reddit board that drove up GameStop\u2019s stock as a hit against Wall Street hedge fund managers engaged in short selling.\u201d<\/span><\/p>\n<p><span>\u201cI got to say I LOVE LOVE what is going on with <\/span><span>#wallstreetbets<\/span><span>. All of those years of High Frequency Traders front running retail traders, now speed and density of information and retail trading is giving the little guy an edge. Even my 11 yr old traded w them and made $,\u201d he tweeted.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\" readability=\"9.903536977492\">\n<p lang=\"en\" dir=\"ltr\">I got to say I LOVE LOVE  what is going on with <a href=\"https:\/\/twitter.com\/hashtag\/wallstreetbets?src=hash&#038;ref_src=twsrc%5Etfw\">#wallstreetbets<\/a>. All of those years of High Frequency Traders front running retail traders,now speed and density of information and retail trading is giving the little guy an edge. Even my 11 yr old traded w them and made $<\/p>\n<p>\u2014 Mark Cuban (@mcuban) <a href=\"https:\/\/twitter.com\/mcuban\/status\/1354613692239925249?ref_src=twsrc%5Etfw\">January 28, 2021<\/a><\/p>\n<\/blockquote>\n<p><span>As reported by <\/span><a href=\"https:\/\/www.dailywire.com\/news\/mark-cuban-backs-wallstreetbets-i-love-love-what-is-going-on\"><span>The Daily Wire<\/span><\/a><span>, Cuban argued on CNBC\u2019s \u201cSquawk Box\u201d that WallStreetBets engaged in the same kind of behavior as any brokerage firm.<\/span><\/p>\n<p><span>\u201cHow is this any different than what every brokerage firm does?\u201d Cuban asked.<\/span><\/p>\n<p><span>\u201cAs someone who\u2019s shorted stocks many times \u2026 you know exactly what you\u2019re getting into, and you know exactly what the risks are,\u201d he later added.<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite massive levels of volatility in the cryptocurrency market resulting in a decline in Bitcoin prices \u2014 briefly dropping below $30,000 in recent days \u2014 billionaire Mark Cuban has come &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2281073,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1209454147-1200x800-1.jpg","fifu_image_alt":"\u2018It\u2019s BETTER Than Gold\u2019: Mark Cuban Defends Bitcoin, Despite Price Drop","footnotes":""},"categories":[],"tags":[],"class_list":["post-571445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1209454147-1200x800-1.jpg","fifu_image_alt":"\u2018It\u2019s BETTER Than Gold\u2019: Mark Cuban Defends Bitcoin, Despite Price Drop","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/571445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=571445"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/571445\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2281073"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=571445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=571445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=571445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}